LiDAR Market To Hit 12.4% CAGR to 2022 Propelled by Technology Superiority of LiDAR

Technology Superiority of LiDAR is pushing LiDAR Market along with encouragement from government and institutes for adoption of LiDAR, automation and use of LiDAR in automotive sector according to this new research report. It forecasts the market to reach $3.22 billion by 2022, at a CAGR of 12.4% between 2016 and 2022.

PUNE, India, March 30, 2016 — (PRNewswire) —

PUNE, India, March 30, 2016 /PRNewswire-iReach/ -- The LiDAR market is expected to grow at a CAGR of 12.4% between 2016 and 2022 and estimated to reach $3.22 billion by 2022. A key driving factor for the growth of the market is the technology superiority of LiDAR. Besides, several other factors such as encouragement from government and institutes for adoption of LiDAR, automation, and use of LiDAR in automotive sector are also propelling the growth of this market. Complete report on LiDAR market spread across 143 pages, profiling 14 companies and supported with 67 tables and 52 figures is now available at .

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In the LiDAR market, by product, UAV segment is estimated to grow at the highest CAGR during the forecast period. Presently, the increasing adoption of UAV for various applications such as media and entertainment, precision farming, and many other commercial applications is the reason for high growth of UAV LiDAR.

The LiDAR market in APAC is expected to grow at the highest CAGR between 2016 and 2022. The growth is attributed to increasing industrialization and urbanization in this region. Increasing awareness among governments and customers is driving LiDAR market in APAC region. Further, availability of local players and favorable economic conditions are some of the reasons for the high growth of the market in this region.

Several primary interviews with experts have been conducted across four major regions, namely, North America, Europe, Asia-Pacific, and Rest of the World (the Middle East, Africa, and South America). The primary participants considered for the study are C level executives, managers, and D level executives of tier 1, tier 2, and tier 3 companies.

The key players in the LiDAR market include Quantum Spatial (Aerometric) (U.S.), Faro Technology (U.S.), Geodigital (Canada), Leica Geosystems AG (Switzerland), Optech, Inc. (Canada), Reigl Laser Measurement Systems GmbH (Austria), Topcon Positioning Systems, Inc. (U.S.), Trimble Navigation Limited (U.S.), Sick AG (Germany), Velodyne (U.S.), BLOM (Norway), Michael Baker International (U.S.), and Yellow Scan (France). Priced at $5650 for a single user PDF, Inquire Before Buying on "LiDAR Market by Product (Aerial, Ground-based, and UAV LiDAR), Component, Application (Corridor Mapping, Engineering, Environment, ADAS, Urban Planning, Exploration, and Metrology), Services and Geography - Global Forecast to 2022" research report can be requested at .

On a related note, another research titled Electronic Sensors Market For Consumer Industry Global Forecast to 2022 says, the electronic sensors market for the consumer industry was valued at $11.94 billion in 2015 and is expected to reach $26.76 billion by 2022, growing at a CAGR of 12.26% during the forecast period. The market in Asia-Pacific is expected to grow at the highest CAGR in the electronic sensors market for the consumer industry between 2016 and 2022. Companies like Sony Corporation (Japan), STMicroelectronics N.V. (Switzerland), Samsung Electronics Co., Ltd. (South Korea), NXP Semiconductors N.V. (Netherlands), Robert Bosch GmbH (Germany), Murata Manufacturing Company, Ltd. (Japan), Infineon Technologies AG (Germany), TE Connectivity Ltd. (Switzerland), Synaptics Incorporated (U.S.), Cypress Semiconductor Corporation (U.S.), and OMRON Corporation (Japan) have been profiled in this 172 pages research report available at .

Explore more reports on Information Technology & Telecommunication market at .

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